Mirai Investments Enters Environmental Services Sector with Acquisition of Afesa and Mendiola

José Antonio Jainaga's investment vehicle acquires two Basque companies, aiming for 100 million euros in revenue by 2026.

Generic image: abstract representation of environmental services and circular economy.
IA

Generic image: abstract representation of environmental services and circular economy.

Mirai Investments, the investment vehicle of José Antonio Jainaga, announced today the acquisition of Basque companies Afesa Medio Ambiente (Derio) and Excavaciones Mendiola (Gasteiz).

The move aims to enter the environmental services sector, where it forecasts revenues of nearly 100 million euros by 2026. The conglomerate stated that these acquisitions mark its entry into a new business area: environmental services and circular economy for heavy industry, the energy sector, and construction.
The investor aspires to become a benchmark in this field, achieving revenues of approximately 100 million euros by 2026 and employing around 300 people. Afesa specializes in demolitions, waste management, and soil treatment. In 2025, it had a turnover of 65 million euros and a team of 190 employees. Its headquarters are in Derio, with additional facilities in Lantarón (Araba) and Valladolid.
Meanwhile, Excavaciones Mendiola, specializing in excavation, earthmoving, and construction and demolition waste management, reported 14 million euros in revenue in 2025. Located in the Jundiz industrial park in Gasteiz, it employs 95 people. It primarily operates in Euskadi and neighboring regions, undertaking major projects such as those related to the High-Speed Train (TAV) in Burgos and Euskadi.
Mirai indicated that the combination of both companies offers "clear complementarity," enabling the provision of comprehensive services throughout the entire cycle of industrial, energy, and construction projects across the peninsula and islands, "in a market driven by increasing environmental demands and the transition towards a circular economy."
Mirai Investments currently operates three divisions: Ohmnia (electronics), Innometal (metal), and Labery (cosmetics), alongside investments in sectors like health and fashion. In recent years, it has completed over 25 acquisition processes, where managing family-business succession was often "a key factor."